Updated Two-Unit
For Sale
$524,900
13 Lincoln Street, Spencer, MA 01562
One residence is occupied and has separate gas and electric meters, along with a private patio.
Property Size3,456 SF
Price / SF$151.88
Days on Market10
Property Features for 13 Lincoln Street
General Information
Standard status
Active
Size
3,456 SF
Total Parking Spaces
7
Property subtype
Multi-family
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Amenities
private patio
in-unit washer/dryer
laundry room
yard
shed
Building Details
Year Built
1840
Listing Agency:
Real Broker MA,LLC
Listed By:
Jim Black Group
(888) 854-7493
Source:
Parksquarerealty
Added: Oct 4
Changed: Oct 13
Last Checked: Oct 12 at 8:26PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Real Broker MA,LLC
Investment Insights
Based on property information with market context.
This 3,456-square-foot duplex, built in 1840, is configured as two residences. The first has three bedrooms, one full bath, a living area, kitchen, and private patio; its gas and electric meters are separate. The second occupies the upper two floors and includes multiple bedrooms, two full baths, two living rooms, and two kitchen areas. Laundry facilities are located on both levels. Improvements include waterproof vinyl laminate flooring, kitchen upgrades with quartz counters, new water heaters installed in 2024, and attic insulation. The roof includes plywood, and hot-air ducts were inspected for leaks.
Seven off-street parking spaces are available, including stacked driveway parking. The grounds also include a yard and a small shed. Downtown Spencer, Price Chopper, CVS, the library, restaurants, and public transportation to Worcester are within walking distance.
Seven off-street parking spaces are available, including stacked driveway parking. The grounds also include a yard and a small shed. Downtown Spencer, Price Chopper, CVS, the library, restaurants, and public transportation to Worcester are within walking distance.
Key Highlights
- Two residences with a combined 3,456 square feet
- First unit has 3 bedrooms, 1 full bath, a kitchen, living area, and private patio
- Upper residence spans two floors, with two full baths, two living areas, and two kitchen areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,717
Cap Rate
8.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$934,340
$934.3K
Cap Rate 7%
$667,386
$667.4K
Cap Rate 9%
$519,078
$519.1K
Market Conditions
NOI Build-Up for 3,456 SF
Gross rent
$68.4K $19.80/SF
− Vacancy
−$1.7K −$0.49/SF
EGI
$66.7K $19.31/SF
− OpEx
−$20.0K −$5.79/SF
NOI
$46.7K $13.52/SF
Area
Worcester County, MA
Vacancy
2.47%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$934,340
Cap Rate 7%
$667,386
Cap Rate 9%
$519,078
Alternative Uses
Best Use
Multifamily LT 5
$667.4K
$584.0K – $778.6K
NOI $46,717 @ 7.0% cap · market cap 8.90%
Second Best
Apartment 5plus
$580.8K
$508.2K – $677.6K
NOI $40,656 @ 7.0% cap · market cap 7.75%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,612 @ 7.0% cap · market cap 15.74%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
363
Businesses Nearby
Explore this area
Business Placement
Demographics for 01562, MA
11,992
Population
5,788
Households
2.1
Avg Household Size
44
Median Age
27%
College-Educated
92%
High-School Grad
32.9 sq mi
ZIP Area
364
Density / Sq Mi
$79,086
Median Household Income
$49,131
Median Earnings
$1,085
Median Rent
$368,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - One residence is occupied and has separate gas and electric meters, along with a private patio.
Where is this duplex located?
The property is located at 13 Lincoln Street Spencer, MA.
What is the asking price?
The asking price for this property is $524,900.
What are key features of this property?
This property features: Two residences with a combined 3,456 square feet; First unit has 3 bedrooms, 1 full bath, a kitchen, living area, and private patio; Upper residence spans two floors, with two full baths, two living areas, and two kitchen areas
